Executive
Condominium
Eligibility:
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Singapore Citizenship: You and all co-applicants must be Singapore Citizens.
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Household Income: There is no income ceiling for EC purchases, unlike for HDB flats. However, the price of the EC and the amount of CPF Housing Grant available may be influenced by your income level.
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No existing residential property: You and your co-applicants cannot own any other private residential property in Singapore.
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Minimum Occupation Period (MOP): After purchasing an EC, you must occupy the unit for at least 5 years before you can sell it in the open market.
CPF Housing Grants:
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Enhanced CPF Housing Grant (EHG): You may be eligible for the EHG, which can help with your downpayment and monthly mortgage payments. The grant amount varies depending on your income and household composition.
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Eligibility for EHG:
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You and your spouse (if applicable) must be Singapore Citizens.
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Your household income must fall within the eligible income ceiling for the EHG.
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You must meet the other eligibility criteria for the EHG, such as not having previously received the grant.
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Restrictions:
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Resale Restrictions: As mentioned, you cannot sell your EC in the open market for the first 5 years of ownership.
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Subletting Restrictions: Subletting your EC is generally not allowed during the first 5 years of ownership, with limited exceptions.
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Renovation Restrictions: There may be restrictions on the type and extent of renovations you can perform on your EC, particularly in the early years of ownership.
Important Notes:
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Eligibility criteria and grant amounts are subject to change. It's crucial to check with the Housing & Development Board (HDB) for the latest information and updates.
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Professional advice: Consulting with an HDB officer or a qualified financial advisor is recommended to understand the specific eligibility criteria, grant amounts, and restrictions that apply to your situation.
This expanded information provides a more comprehensive understanding of the key aspects of eligibility, CPF Housing Grants, and restrictions when purchasing an Executive Condominium in Singapore.
Disclaimer: This information is for general guidance only and may not be entirely accurate or up-to-date. Please refer to official HDB sources for the most accurate and current information.
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